Foreclosure filings in the first quarter fell nearly 9 percent in Georgia and 21 percent in Tennessee, according to RealtyTrac's compilation of default notices, scheduled auctions and bank repossessions.
But RealtyTrac CEO Brandon Moore said bank moratoriums and lawsuits blocking foreclosures artificially depressed filings this winter. "The dam may not burst in the next 30 to 45 days, but it will eventually burst, and everyone downstream should be prepared," Moore said.
Georgia had the fourth- highest foreclosure rate with one of every 119 homes entering foreclosure this winter. Tennessee's foreclosure rate was only one-third of Georgia's rate, however.
Get breaking news from the Times Free Press on Twitter at www.twitter.com/timesfreepress or by visiting us on Facebook or Twitter at the right:
related articles »
Despite the drop in interest rates and unemployment this year, property foreclosures were still up 8 percent in Hamilton County ...
Lenders initiated foreclosure proceedings against more U.S. homeowners in May, setting the stage for increases in home repossessions and short ...
Georgia bucked a nationwide decline in foreclosures last month to become the No. 1 state for property default notices, scheduled ...
The new year is beginning with fewer property foreclosures, but last week's settlement between regulators and major banks over foreclosure ...
